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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
067 000400 N
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070 I020400 N
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<SHARES-REINVESTED> 433681
<NET-CHANGE-IN-ASSETS> 53777864
<ACCUMULATED-NII-PRIOR> 4017
<ACCUMULATED-GAINS-PRIOR> 66054
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 258832
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 400629
<AVERAGE-NET-ASSETS> 64934683
<PER-SHARE-NAV-BEGIN> 9.54
<PER-SHARE-NII> .41
<PER-SHARE-GAIN-APPREC> 1.51
<PER-SHARE-DIVIDEND> (.41)
<PER-SHARE-DISTRIBUTIONS> (.15)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.90
<EXPENSE-RATIO> .50
<FN>
<F1>Net of foreign withholding taxes of $276
<F2>Per Share of $.411
<F3>Per Share of $.15
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001034633
<NAME> STATE FARM VARIABLE PRODUCT TRUST
<SERIES>
<NUMBER> 4
<NAME> LARGE CAP EQUITY INDEX FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 195549962
<INVESTMENTS-AT-VALUE> 225248712
<RECEIVABLES> 399197
<ASSETS-OTHER> 159530
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 225807439
<PAYABLE-FOR-SECURITIES> 4809
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 217428
<TOTAL-LIABILITIES> 222237
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 195659431
<SHARES-COMMON-STOCK> 14964856
<SHARES-COMMON-PRIOR> 4162934
<ACCUMULATED-NII-CURRENT> 19825
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (107029)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 30012975
<NET-ASSETS> 225585202
<DIVIDEND-INCOME> 1595795<F1>
<INTEREST-INCOME> 556792
<OTHER-INCOME> 0
<EXPENSES-NET> 459993
<NET-INVESTMENT-INCOME> 1692594
<REALIZED-GAINS-CURRENT> 2826976
<APPREC-INCREASE-CURRENT> 22778354
<NET-CHANGE-FROM-OPS> 27297924
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1676954)<F2>
<DISTRIBUTIONS-OF-GAINS> (3203078)<F3>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10553923
<NUMBER-OF-SHARES-REDEEMED> 76687
<SHARES-REINVESTED> 324686
<NET-CHANGE-IN-ASSETS> 172280480
<ACCUMULATED-NII-PRIOR> 4185
<ACCUMULATED-GAINS-PRIOR> 269073
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 351017
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 459993
<AVERAGE-NET-ASSETS> 133354830
<PER-SHARE-NAV-BEGIN> 12.80
<PER-SHARE-NII> .20
<PER-SHARE-GAIN-APPREC> 2.40
<PER-SHARE-DIVIDEND> (.20)
<PER-SHARE-DISTRIBUTIONS> (.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.07
<EXPENSE-RATIO> .34
<FN>
<F1>Net of foreign withholding taxes of $15727
<F2>Per Share of $.204
<F3>Per Share of $.131
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001034633
<NAME> STATE FARM VARIABLE PRODUCT TRUST
<SERIES>
<NUMBER> 5
<NAME> INTERNATIONAL EQUITY INDEX FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 115598221
<INVESTMENTS-AT-VALUE> 152733931
<RECEIVABLES> 273038
<ASSETS-OTHER> 282780
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 153289749
<PAYABLE-FOR-SECURITIES> 290966
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 337771
<TOTAL-LIABILITIES> 628737
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 115016183
<SHARES-COMMON-STOCK> 10498882
<SHARES-COMMON-PRIOR> 6592448
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (310731)
<ACCUMULATED-NET-GAINS> 822453
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 37133107
<NET-ASSETS> 152661012
<DIVIDEND-INCOME> 1768935<F1>
<INTEREST-INCOME> 136729
<OTHER-INCOME> 0
<EXPENSES-NET> 806656
<NET-INVESTMENT-INCOME> 1099008
<REALIZED-GAINS-CURRENT> 952452
<APPREC-INCREASE-CURRENT> 27317744
<NET-CHANGE-FROM-OPS> 29369204
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1184732)<F2>
<DISTRIBUTIONS-OF-GAINS> (246323)<F3>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3818817
<NUMBER-OF-SHARES-REDEEMED> 11008
<SHARES-REINVESTED> 98625
<NET-CHANGE-IN-ASSETS> 75963880
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 117394
<OVERDISTRIB-NII-PRIOR> (226077)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 590404
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1008836
<AVERAGE-NET-ASSETS> 107582274
<PER-SHARE-NAV-BEGIN> 11.63
<PER-SHARE-NII> .13
<PER-SHARE-GAIN-APPREC> 2.92
<PER-SHARE-DIVIDEND> (.12)
<PER-SHARE-DISTRIBUTIONS> (.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.54
<EXPENSE-RATIO> .75
<FN>
<F1>Net of foreign withholding taxes of $168799
<F2>Per Share of $.1224
<F3>Per Share of $.0156
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001034633
<NAME> STATE FARM VARIABLE PRODUCT TRUST
<SERIES>
<NUMBER> 6
<NAME> STOCK AND BOND BALANCED FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 36009688
<INVESTMENTS-AT-VALUE> 38158798
<RECEIVABLES> 37704
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38196503
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 37704
<TOTAL-LIABILITIES> 37704
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35066966
<SHARES-COMMON-STOCK> 2992974
<SHARES-COMMON-PRIOR> 488711
<ACCUMULATED-NII-CURRENT> 959306
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (16583)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2149110
<NET-ASSETS> 38158799
<DIVIDEND-INCOME> 962438
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 962438
<REALIZED-GAINS-CURRENT> (10394)
<APPREC-INCREASE-CURRENT> 1801510
<NET-CHANGE-FROM-OPS> 2753554
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (47589)<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2564307
<NUMBER-OF-SHARES-REDEEMED> 63779
<SHARES-REINVESTED> 3735
<NET-CHANGE-IN-ASSETS> 32583987
<ACCUMULATED-NII-PRIOR> 44457
<ACCUMULATED-GAINS-PRIOR> (6189)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 30583
<AVERAGE-NET-ASSETS> 21159826
<PER-SHARE-NAV-BEGIN> 11.41
<PER-SHARE-NII> .25
<PER-SHARE-GAIN-APPREC> 1.11
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.75
<EXPENSE-RATIO> 0
<FN>
<F1>Per Share of $.016
</FN>
</TABLE>
Exhibit 99
Report of Independent Auditors
To the Shareholders and
Board of Directors of
State Farm Variable Product Trust -
Large Cap Equity Index Fund
Small Cap Equity Index Fund
International Equity Index Fund
Stock and Bond Balanced Fund
Bond Fund
Money Market Fund
In planning and performing our audit of the financial statements of the State
Farm Variable Product Trust, including the Large Cap Equity Index Fund, Small
Cap Equity Index Fund, International Equity Index Fund, Stock and Bond Balanced
Fund, Bond Fund, and Money Market Fund for the year ended December 31, 1999, we
considered its internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the internal control.
The management of State Farm Variable Product Trust is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in conformity with
accounting principles generally accepted in the United States. Those controls
include the safeguarding of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the specified internal control components does not reduce to a relatively low
level the risk that errors or fraud in amounts that would be material in
relation to the financial statements being audited may occur and not be detected
within a timely period by employees in the normal course of performing their
assigned functions. However, we noted no matters involving internal control and
its operation, including controls for safeguarding securities that we consider
to be material weaknesses as defined above at December 31, 1999.
<PAGE>
This report is intended solely for the information and use of the board of
directors and management of State Farm Variable Product Trust and the Securities
and Exchange Commission and is not intended to be and should not be used by
anyone other than these specified parties.
/S/ ERNST & YOUNG LLP
Chicago, Illinois
January 28, 2000
